|It's all downhill from here.|
Long term goals are not easy to accomplish, especially when you are sacrificing to achieve them. If you love working-out or running, then reaching goals just sort of happens without any real effort because you love what your doing. This idea fits in nicely with the saying: "Love what you do and you'll never work a day in your life". However, reaching a long-term goal involving real sacrifice like, for example, dieting to lose weight or, dare I say, paying off consumer debts like credit cards or mortgages is certainly a different beast. It's easy to tire out along the way or get bored over the span of several years as you trudge along ever so slowly reaching your goal. I know, it happened to me over the past several months since paying off rental property number two in December. I wanted more excitement, a break from the self-sacrifice we'd been exercising over the previous twenty-four months of mortgage debt pay down. So, what have we been doing the past four months?
Investing in the stock market
It's no secret to anyone reading this blog that I enjoy buying dividend growth companies. During the last swoon in oil prices we bought Exxon, Shell, Conoco, Kinder Morgan, BP and BHP Billiton.
Balance on mortgage: $63,149.10
Average energy portfolio yield: 4.67%
What does it all mean?
So, as you can see, it is worthwhile to re-evaluate what you want to accomplish and when. In our case, we still want to remove this last vestige of debt and be 100% free. We also want to get this additional income generated as soon as possible while avoiding the market risks inherent with an equities portfolio. That day will come, but only after we've reduced or eliminated all other controllable risks to our personal financial profile.